Funding arb · Price arb /

TSLA

RWAall TSLA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0254%/8h= +27.9% APRpaid last 24h +0.102%

Price spread now: Phoenix against Bybit−0.040%85s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs+$26as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$390.394% of the position

Long on Bybit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.653%+$65 on $10k

Price spread, last 7 days+0.100%+$10 · spread now −0.040%, 7d avg +0.023%

Together, before fees+0.753%+$75 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.062% cheaper against Bybit than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of +0.023%). If the spread goes back, that is −$6 on $10k: about 20 hours of funding at the current rate (+$8 a day). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TSLAUSDT	377.39	0	get 0.0000% / 8h	5h 25m	$10.3M	$15.4M	100x
Short	Phoenix TSLA	377.24	0.0254	get 0.0032% / 1h	25m 55s	$1.3M	$539K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee PhoenixbpOrdersPrice spread, now −0.040%Rate

Funding earned: $53.42
Price spread: −0.040% → +0.023%: −$6.25
Slippage, 4 orders: −$21.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $7.8
Costs to cover: 0.394%
Break-even: 6.0 days

Slippage from Bybit: live order book, 2 min ago; Phoenix: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 2 min ago	0.40 bp	7.7 bp −$8	11.3 bp −$113	151.8 bp −$15.2K	doesn't fit
Sell Phoenix live order book, 2 min ago	3.97 bp	12.2 bp −$12	26.1 bp −$261	doesn't fit	doesn't fit

TSLA on 36 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TSLAUSDC	−0.0830%	4h	377.36	−0.009%	$399K	$1.0M	10x	as long as short
BloFin TSLA-USDT	−0.0008%	8h	377.33	−0.016%	$577K	$340K	20x	as long as short
Aster TSLAUSDT	0.0000%	8h	377.29	−0.027%	$578K	$196K	50x	as long as short
Extended TSLA_24_5-USD	0.0000%	1h	377.23	−0.043%	$480K	$6.9M	10x	as long as short
Binance TSLAUSDT	0.0000%	8h	377.33	−0.016%	$47.4M	$110.6M	25x	as long as short
Bybit TSLAUSDTlong	0.0000%	8h	377.39	long leg	$10.3M	$15.4M	100x
OKX TSLA-USDT-SWAP	0.0000%	8h	377.26	−0.034%	$11.2M	$16.9M	25x	as long as short
RISEx TSLA/USDC	0.0000%	1h	377.32	−0.018%	$290K	$599K	20x	as long as short
Bitget TSLAUSDT	0.0000%	8h	377.24	−0.040%	$17.1M	$22.9M	100x	as long as short
Variational Omni TSLA	0.0000%	8h	377.27	−0.032%	$1.9M	$1.4M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT TSLA_USDT_Perp	0.0000%	8h	377.39	+0.001%	$846K	$2.8M	10x	as long as short
StandX TSLA-USD	0.0000%	1h	377.26	−0.034%	$200K	$909K	20x	as long as short
Deribit TSLA_USDC-PERPETUAL	0.0000%	1h	377.14	−0.066%	$20K	$188K	10x	as long as short
Coinbase International TSLA-PERP-INTX	0.0000%	1h	377.12	−0.072%	$513K	$330K	10x	as long as short
Phemex TSLAUSDT	0.0000%	4h	377.29	−0.026%	$1.1M	$15K	10x	as long as short
Aftermath Perps TSLAUSD	+0.0012%	1h	377.11	−0.073%	$38K	$43K	10x	as long as short
QFEX TSLA-USD	+0.0019%	1h	377.26	−0.034%	$1.2M	$6.6M	10x	as long as short
Lighter RH TSLA	+0.0032%	1h	377.29	−0.026%	$1.2M	$2.6M	20x	as long as short
Lighter TSLA	+0.0040%	1h	377.27	−0.032%	$819K	$3.6M	20x	as long as short
Arcus TSLA-USD	+0.0040%	1h	377.10	−0.077%	$162K	$96K	10x	as long as short
Vest TSLA-USD-PERP	+0.0046%	1h	377.29	−0.026%	—	$130K	25x	as long as short
tradeXYZ xyz:TSLA	+0.0050%	1h	376.99	−0.106%	$44.3M	$14.3M	20x	as long as short
Polymarket Perps TSLA-USD	+0.0050%	1h	377.13	−0.069%	$301K	$310K	10x	as long as short
SoDEX TSLA-USD	+0.0050%	1h	377.23	−0.042%	$4K	$3K	10x	as long as short
Ondo Perps TSLA-USD.P	+0.0050%	1h	377.17	−0.058%	$1.5M	$1.1M	10x	as long as short
Bullet TSLA-USD	+0.0067%	1h	377.30	−0.023%	$5K	$92K	10x	as long as short
Hotstuff TSLA-PERP	+0.0072%	1h	376.98	−0.109%	$34K	—	20x	as long as short
Pacifica TSLA	+0.0100%	1h	377.18	−0.056%	$391K	$37K	10x	as long as short
KuCoin TSLAUSDTM	+0.0100%	8h	377.14	−0.066%	$1.5M	$105K	20x	as long as short
ApeX Omni TSLAUSDT	+0.0100%	1h	377.13	−0.069%	$4K	$62K	50x	as long as short
Orderly PERP_TSLA_USDC	+0.0100%	8h	377.24	−0.040%	$41K	$22K	20x	as long as short
Aevo TSLA-PERP	+0.0104%	1h	377.20	−0.050%	$747	—	10x	as long as short
Gate TSLA_USDT	+0.0110%	8h	377.28	−0.029%	$2.3M	$3.7M	100x	as long as short
Nado TSLA-PERP	+0.0144%	1h	377.17	−0.059%	$490K	$112K	20x	as long as short
Injective TSLA/USDC PERP	+0.0220%	1h	378.09	+0.185%	$79K	$36K	30x	as long as short
Phoenix TSLAshort	+0.0254%	1h	377.24	−0.040%	$1.3M	$539K	20x